روح الله صدیقی

One of the actions that can sustainably increase government revenues, without growing the money supply, is Making assets productive. So identifying the barriers and challenges to Making public assets productive of the government can have a significant role in securing the resources the government needs through this means. Based on this, the current research aims to examine the obstacles and challenges of optimizing the government’s public assets. This research is applied in terms of its goal and descriptive in terms of data collection methods, and it is correlational in nature. For gathering information in this research, both library resources and field methods were used. The statistical population of this research includes managers, financial controller and their deputies, senior auditors, and accountants from the Ministry of Economic Affairs and Finance, the Court of Auditors, and the Organization of Planning and Budget. SPSS and Excel software have been used for data analysis. Based on the findings, a total of 29 factors affect the Making  of public assets productive the government.

The Company’s ability to earn Income from its business and management resources and fulfill future obligations can be defined as financial competence, in other words, financial competence means the ability of an insurance company to fulfill short-term and long-term financial obligations, if the insurance companies lose their financial competence, in the first stage, they lose the ability to create profitability and obtain appropriate returns in the next stage, they will be exposed to financial insolvency, Considering the lack of a specific framework for determining the financial worthiness of Iranian insurance companies and the main attention of the supervisory body to the ratio of financial prosperity, in the present study, an attempt has been made to present a systematic framework for determining the financial worthiness of insurance companies in Iran. In terms of its purpose, the current research is one of the developmental researches, and to conduct the research, the qualitative research method was used, and among the qualitative research methods, the meta-composite method was used. In order to achieve the goals of the research, 337 articles were reviewed in the period of 30 years (1994 to 2023) and finally 76 articles were analyzed using the metacombination method of Sandelowski and Barroso. The findings of the research presented 58 indicators, 15 components and 5 dimensions to determine the financial competence of insurance companies. In the end, by using Shannon's entropy method, the amount of support of the previous research findings from the current research findings has been determined.

Conventionally, it is thought that stocks with a high risk should yield higher returns. However, this notion is empirically incorrect. The reason for such a contradiction can be investors' feelings. Therefore, the purpose of this study was to investigate the relationship between investors` sentiments, business credit, and stock returns. For this purpose, the data of 130 companies were collected monthly for the period 2013-2019 (10,920 months-companies). The results supported the view that credit risk has a negative relationship with future stock returns. In the same way, it was observed that the investors' sentiments in speculative stocks are were on average higher than the investment stocks. Also, the results of univariate analysis based on quantile regression showed that there was a negative relationship between credit rating and the investors' sentiments in all the quantiles. Crowdfunding has become a modern and favorite financing channel worldwide. Crowdfunding is a new financing method that helps entrepreneurs acquire the financial resources needed for their projects. This study aimed to investigate the factors affecting individuals' interest in participating and investing in crowdfunding projects. Using the Structural Equations Modeling (SEM) technique, the developed model was tested with the help of Amos software via the data obtained from 318 individuals. This paper examined the direct and indirect contextual variables: awareness of need, altruism, reputation, psychological benefits, efficacy, funder’s trust, and institution-based trust in the investment intention. Finally, it was observed that awareness of need, altruism, values, reputation, psychological benefits, efficacy, funder’s trust, and institution-based trust were the factors influencing people's intention to invest in crowdfunding projects.

The present study aims to propose a model for assessing the quality of the internal control structure of companies listed on the Tehran Stock Exchange. To achieve this goal, a set of indicators and components of the internal control structure were identified through a review of the theoretical foundations and research background, as well as interviews with experts and specialists in the relevant field. Then, using the fuzzy Delphi process and model validation with the binomial test, quality measurement indicators for the internal control structure were identified. The sample consisted of 36 managers and university professors specializing in internal controls. According to the study, the quality of the internal control structure was classified into three environmental, structural-executive, and results dimensions. The environmental dimension includes three components: the cultural, social, and economic environment of the company's activity location, the legal, political, and economic structure governing the company, and the general structure of the company, with twenty indicators. The structural-executive dimension includes four components: the board of directors structure, specialized committees of the board of directors, senior management structure, and internal supervisory structure, with fifty-eight indicators. The results dimension includes five components: internal control assessment report, independent auditor report, compliance with laws and regulations by the company, company's tax and insurance structure, and transparency and quality of reporting - fairness and justice in the company, with thirty-three indicators

The Audit Committee, as one of the main components of the corporate governance system, is the final supervisor of the financial accounting system. Following the recent financial scandals, the adequacy of the effectiveness of these committees has been severely criticized, so it is necessary to make a difference between the audit committee which is merely formal and used as a legal safeguard and tool to justify management actions with the audit committee which Effectively oversees financial reporting and control. The purpose of this study is to design a conceptual model for the effectiveness of the audit committee in Iran. The first part of the research is of qualitative type which was done using grounded theory method And the statistical population consisted of experts in the field of audit committee who through purposeful sampling a total of eighteen people were selected as participants. The central issue is the effectiveness of the audit committee, which in five dimensions, Analysis, and then according to causal conditions and intervening conditions, strategies And its consequences are analyzed and the final model is based on it.In the next step,, a questionnaire was designed and completed by 218 members of audit companies of listed companies and with Eviews statistical software Was processed. Quantitative results of the research showed that among the variables of the audit committee activity, expertise-based ability, experience-based ability, independence, characteristics of the chairman, audit authority and organizational position, motivation and commitment of the audit committee members, knowledge and attitude of the Company departments, the support of the CEO and the supervision of the stock exchange organization, There is a significant relationship whit the effectiveness of the "Audit" committee. However, between the variables of audit committee size, audit committee tenure, effective interaction and cooperation of audit committee members, effective accountability and monitoring of the board of directors, demand for accountability and stakeholder awareness and attitude, with the effectiveness of the audit committee no significant relationship was found.

During their life cycle, companies adopt policies that are appropriate to their situation so that they can confidently pass through the stages of the life cycle. In this research, the effect of the company's life cycle on the relationship between financial leverage and accounting conservatism has been investigated using the data of 167 companies admitted to the Tehran Stock Exchange, which were selected using the systematic elimination method, between 1393 and 1400. This research is applied in terms of purpose and multivariate regression method was used to analyze the data. The results of the research show that there is a positive and meaningful relationship between financial leverage and conservatism, and due to the fact that the coefficient is larger in the growth stage, it indicates that the intensity of this relationship is greater in this stage than in the stages of decline and

Previous studies have proved the significant role of cognitive characteristics and personality traits in making judgments and decisions. The purpose of the present study is to investigate the impact of the Intelligence Quotient (IQ) of auditors, as a cognitive characteristic, on their audit quality.

In this study, in order to investigate and analyze the hypothesis, the data related to the IQ of 41 Certified Public Accountants (CPA) of the Tehran Stock Exchange (TSE) were extracted. These accountants were the first signatories of the audit report of 204 companies listed on the body in the fiscal year of 1398 (started on March 21, 2018). To collect the required data about the IQ variable (the questionnaire), the Raven`s Progressive Matrices (RPM) test was used. To assess the other variable, i.e. the quality of the audit, the type of auditors’ reports were used as a benchmark. Logistic Regression was also used to test the study hypothesis.

After conducting the statistical analysis and estimating the Logistic Regression, the positive and significant impact of the IQ of the auditors on the quality of the audit was confirmed, regarding the coefficient of the independent variable, i.e. IQ, which stood at 1998/0. Also, the coefficient of determination (R²), which is the same as the McFadden R-squared, stood at 0.163, proving that 16% of the changes in the dependent variable could be explained by the independent logistic Regression variable.

According to the findings o the present study, the auditors’ IQ as a cognitive characteristic and personality trait has a positive effect on their decision-making and judgments throughout the entire audit process. The obtained results suggest that the auditors’ IQ bears a significant and direct relationship with the quality of the audit. It can be concluded that the higher the auditors’ IQ is, the higher the quality of the audit would be; therefore, auditors with higher IQ levels, make better judgments with higher audit quality. Accordingly, IQ as one of the cognitive abilities of auditors has an important role in decision-making during the audit process and in improving the audit quality. This study showed that despite various mechanisms aimed at standardizing audit quality, the auditors’ intellectual ability is still important for the quality of audit services provided to the clients. These findings may be interesting to those who decide on mechanisms to control and regulate the quality of audit services. This study showed that the cognitive characteristics of the auditors, as a unit of analysis, play an effective role in audit quality.

The profitability of the companies and factors affecting it is an issue of interest in financial and accounting research. The purpose of this study is to investigate the effect of agency costs and management ability on the profitability of companies, and the way agency costs affect profitability by emphasizing the role of management ability.

Data of 100 companies accepted in Tehran Stock Exchange was collected during the years 2012 to 2018.  In order to measure profitability and agency costs, the ratio of return on assets and inverse of assets utilization ratio were used respectively. The management ability was measured using the two-stage method of Demerjian et al (2012). Data analysis was performed using Data Envelopment Analysis and EViews10 software.

The results show that the index of agency costs has a negative and significant effect on the profitability index. According to the GMM Panel (dynamic model), management ability also has a positive and significant effect on future profitability. On the other hand, the managerial ability moderates the impact of agency costs on profitability by reducing its negative impact on the profitability index.

The results indicate that managers with high abilities can better align their interests with those of shareholders and the agency conflicts such as moral hazard, earnings management, time horizon difference and the tendency to maintain profit inside the company, occur in companies with such managers less.

The present study investigates and prioritizes the internal factors affecting the prediction of dividend policy in companies listed on the Tehran Stock Exchange. The method of this research is exploratory in two parts: qualitative and quantitative. The strategy of the qualitative part of content analysis (summary approach) and data collection tools have been research related to the subject of previous research. After reviewing books, articles and performing qualitative steps, 120 initial codes were counted in the initial coding stage and then 31 open codes were extracted by the researcher and the findings of the qualitative section in the form of 31 indicators and 4 components as effective factors in forecasting. Profit distribution policy was developed in companies listed on the Tehran Stock Exchange. In the quantitative part, a questionnaire was designed to screen the extracted components and indicators and the answers were analyzed by fuzzy Delphi method. The statistical population of the research in this section is specialized faculty members with scientific-research backgrounds and experience in the field of accounting and financial management, members of the board, CEOs, auditors and financial managers of companies listed on the Tehran Stock Exchange. Snowball sampling method was selected. Then, by designing a pairwise comparison questionnaire using the best-worst BWM method and using Lingo software, the components were prioritized. The results show that the components of corporate governance with the first priority, information quality and reporting with the second priority, financial components with the third priority and risk with the fourth priority are the internal factors influencing the prediction of profit sharing policy.

subject and Purpose of the article:

 This paper done with the aim of identifying the factors influencing the judgment and decision-making of public sector auditors regarding accountability of public sector institutions.  

This study is a combination of applied and developmental research. The statistical population includes experts who work in the field of professional judgment and audit decision-making of public sector bodies.

The results showed in terms of environmental structure, all 19 indicators related to environmental structure are on the same level. In behavioral structure, the results showed the two indicators of "self-efficacy" and "self-awareness" are in the first level. The seven indicators are in the second level and at the third level, the "concern for accountability to members of the parliament and superiors” exist. Finally, at the fourth level, there are five indicators. Regarding the duty structure, the index of "recognition the activity of the organization which is under review" placed in the first level. Also, eight indicators are in the second level. At the third level, there are four indicators and the "Use of tools and New techniques” index is in the fourth level. The results of structural-interpretive method showed the three constructs are related to each other and none of is superior to other.

Conclusion, originality and its Contribution of the Knowledge: 

The results of paper can help the legislature in the field of public sector auditing to develop directives and also be useful for carrying out management actions in the Supreme Audit Court.

The present study aimed at investigating the effect of debt and free cash flows on tax avoidance by emphasizing the role of institutional ownership in companies listed on the Tehran Stock Exchange. The statistical population of the study includes all companies listed on the Tehran Stock Exchange from 2013 to 2019. The statistical data for testing hypotheses based on the databases of Tehran Stock Exchange Organization have been collected from Kedal website and Novin Rahavard software. To test the research hypotheses, the regression model was used using panel data method and Eviews 10 software. The findings showed that the amount of debt has a negative and significant effect on tax avoidance. Furthermore, the free cash flow has no effect on tax avoidance.

Explaining the rules and regulations on payments of the board of directors in companies is very important for determining the legal duties of companies. In addition to the theoretical aspect, this issue has a wide range of practical effects on the companies. In this study, first, by examining the theories of relationship between the board and the company, the nature of the legal relationship of the board with the company is explained. According to various theories, there are four types of relationships for the board of directors with the company. 1) According to attorney theory, they are attorney of the company. 2) According to another theory, they are Legal agent of the company. 3) Some jurists consider the board of directors as employee of company. 4) And finally, the Organ theory that consider the board as a Pillar of the company. After rejecting the first three theories, the organ theory is accepted as a type of relationship between the board of directors and the company. according to this theory and the analysis of executive circular and legal article related to the payments of the board of directors in the commercial law, direct tax law, labor law, social security law and unemployment insurance law , it was found that the executive circular in some cases contradict with the relevant laws. Therefore, according to the importance of joint stock companies and the role of the board of directors in leading them, it is necessary to review and integrate the proposed laws.

The most important decisions affecting the creation of value and wealth in the enterprises are decisions about investment and capital structure. But investing and financing is not appropriate in themselves, and the enterprises need to pay attention to the investment efficiency and the optimality of the capital structure in these decisions. In short, investment efficiency is investing only in projects with a positive net present value and the optimization of the capital structure means minimizing the cost of capital and bankruptcy risk through financing. In general, investment inefficiency and sub optimality of the capital structure are due to information asymmetry and agency problems. The best way to deal with agency problems is to control the motivations of managers. Considering Maslow's hierarchy of needs and the effect of needs on motivation, it can be said that in addition to financial incentives, social incentives are also effective in the behavior of enterprise managers. Therefore, this study seeks to investigate the effect of industry tournament incentives as a measure of social incentives on investment efficiency and capital structure optimization. 

In this study, the natural logarithm of industry compensation gap has been used to measure industry tournament incentives, Biddle et al.'s model has been used to measure investment efficiency, and Synn and Williams's model has been used to evaluate the optimality of capital structure. Also, to test the research hypotheses, the data of 123 companies listed on the Tehran Stock Exchange from 2010 to 2019 were used and the data were analyzed using multiple linear regression. 

The findings of this study showed that the industry tournament incentives have a negative (positive) and significant effect on investment efficiency (inefficiency). However, the industry tournament incentives do not have a significant effect on overinvestment and lowerinvestment in particular. Also, the industry tournament incentives have a positive and significant effect on the optimality of the capital structure and do not have a significant effect on the positive and negative deviation from the optimal capital structure.

The main hypothesis of this study is that high pay and other desirable characteristics of the managers at other companies in the same or related industries will provide incentives to managers at their own companies. In general, the findings of this study indicate the positive effect of industry tournament incentives on improving company performance. Therefore, policymakers and decision-makers about managers' compensations and motivations should pay attention to other incentives in addition to financial incentives. And during determining the manager’s compensation, in addition to the amount of compensation, pay attention to the other manager's compensation in the same industry and the labor market of managers, and create a balance between different types of motivation.

The Different ownership structure and remarkable increase of family-owned firms in recent years, necessitate doing numerous studies. Therefore, this study investigates effectiveness of audit committee in these types of firms compared to other firms. The sample of this study includes 32 family firms and 144 non-family firms listed in Tehran Stock Exchange from 2015 to 2019. Data analysis and hypotheses test is based on the multivariate regression model and panel data. Effectiveness of the audit committee is measured by two criteria of return on assets (ROA) and market value added (MVA). Audit committee measurement indicators include the size of the audit committee, the financial expertise of audit committee members, and the independence of the audit committee. The results show that family involvement reduces the effectiveness of audit committee size based on the criteria of return on assets and market value added as well as the effectiveness of the financial expertise of the members of the audit committee based on return on assets. However, the results indicate that family involvement does not affect the effectiveness of the Audit Committee's independence based on the criteria of return on assets and market value added, as well as the effectiveness of the financial expertise of the members of the Audit Committee based on the Market Value Added. ‌

According to become the tax avoidance into one of the main obstacles in realizing tax revenues; in this research, the relationships between audit quality, profit management and tax avoidance are examined. By applying the defined constraints in the selection of the statistical sample, 69 companies were selected among the listed companies in the stock market during the 2013-2017 years and the test of statistical hypotheses are done by using the Eviews 8 software And panel data.The results of this study show that there is a reverse and significant relationship between earnings management and tax avoidance and this reverse relation is exacerbated with the presence of a quality auditor. Also, there is a reverse and significant relationship between the quality of the auditor and the tax avoidance. There is also a direct and significant relationship between auditor quality and earnings management.Hence, better management of profits and the use of quality auditors, whether alone or together, would lead to a reduction in tax avoidance.

International Financial Reporting Standards for Small and Medium Sized Entities (IFRS For SMEs) is a set that has less requirements than international financial reporting standards. Small and medium enterprises are being adopted in many countries and these standards are under consideration in Iran. It is necessary that this set of standards be examined before application. In the present study, by using the fair value approach in SME reporting standards, the impact of this approach on the performance indicators based of SME-standards has been investigated. The main purpose of this study is to investigate changes in performance indicators after applying SMEs standards.The statistical population of this research is the subsidiry companies of the public companies whose activities are investment and 95 companies selected as sample. The research period is 2015 to 2017. Therefore, using historical data in the audited financial statements of these companies and the fair value of the investment portfolio of these companies based on the trading portfolio and the report on the status of the portfolio in the codal website, changes in return on assets ratio (ROA) and return on equity ratio (ROE) as performance indicators, is evaluated statistically after applying the fair value approach and compared with the indicators based on Iran's accounting standard. The results indicated that the ratio of return on assets and return on equity as performance indicators, after the implementation of the International Financial Reporting Standard for small and medium sized entities did not change significantly.

Applying effective supply chains and planning the models of evaluating performance have been considered in recent years. The main purpose of this chain is reducing costs, increasing the effectiveness and efficacy and in general improving profit for all its stakeholders. The present study attempted to investigate the possible effect of Financial Supply Chain Management (FSCM) on performance of companies that listed in Tehran Stock Exchange. For this purpose, the 3 month interim (seasonal) data of 37 pharmaceutical and cement companies (888 seasons - company) during 2009-2014 were utilized as sample. The results showed that there was a meaningful negative effect of Days of Sales Outstanding, Days of Inventory, and Operating Cash Cycle on performance. Thus, firms’ managers could improve their performances by adopting plans and policies in the field of financial supply chain. However, there was not found any significant effect on Days of Payables Outstanding, Cash Conversion Cycle on firms’ performance.

The main purpose of the company is acquiring profit or increasing the wealth of shareholders and management is responsible to achieve this goals. In fact Shareholders as owners of the company assign responsibility of acquiring appropriate return on assets to managers and executive compensation is based on their performance. This agency contract is caused agency cost and if the agency costs raised in a firm, the conflict of interest increased in that firm. This research examined the relationship between free cash flow, dividend payments and some of the corporate governance criteria variables (board size, board independence, CEO duality task and institutional ownership) and agency costs with the particular emphasis on the ratio of total operating expenses to sales. Due to the limitations of the research, this article choose 95 companies of listed companies in Tehran Stock Exchange during 2009 to 2013. The result shows that there is a meaningful relationship between free cash flow, dividend payments, board independence, CEO duality task, institutional ownership and agency costs.

Drawing on pecking order and agency cost theories, this study assesses the extent to which information asymmetry is an important determinant of firm value and the extent to which this relationship is conditional on the leverage level of firms. The study also assesses the impact of information asymmetry on firm value and on high and low growth opportunity firms the statistical population of the research include all publicly-held companies listed in Tehran stock exchange (TSE) from which 132 companies were selected as the sample and examined in the period between 2012-2017. To test the hypotheses and estimate coefficiency, the statistical "panel data" technique was employed. Based on the research results the information asymmetry adversely influences firm value, and this effect is moderated by firm's leverage but this effect does not moderated with growth opportunities.

The fundamental roles of independent audit and audit committee, as part of the corporate governance mechanisms, are to reduce information asymmetry between managers and shareholders. We expect that an effective control through these two corporate governance mechanisms be associated with lower levels of earnings management and cash flow management. The purpose of this research is to study the relationship between the quality of independent audit and audit committee with earnings management and cash flow management. In this research ranking of Iranian society of CPAs has been used as the criteria of audit quality; to measure earnings management and cash flow management, Dechow model (1995) and Roychowdhury model (2006) are used, respectively. The statistical population of the following study is the listed companies at Tehran Stock Exchange during the period 2009 to 2014. Due to the specified limitations, the research sample consists of 807 firm-year observations. The results indicate that companies which have been audited by large audit firms, have less earnings management. However, there is no evidence explaining the relationship between audit quality and cash flow management. Also, the results show that there is no significant relationship between audit committee and earnings management or cash flow management.

Cash resources are considered critical to any economic unit. Balance between available cash and cash needs, one of the major business units of economic health and sustainability of their activities.In many financial decisions, securities valuation models, capital project evaluation procedures, etc., are central cash flows.
Accordingly, in this study, we used data from the financial statements of the pharmaceutical companies and the automotive accepted enhancing Tehran Stock Exchange, for the period between1385until1391and used multivariate linear regression model, the impact Vamlmaly determine Vjhnqd (Ahrmmaly, profitability, liquidity and firm size) in this industry to consider. These two industries are widely used. The research design was descriptive and correlational in nature and content of the various correlation study is part of a regression analysis. In addition, the inductive approach, the arrival of a part to the whole, and in terms of research design Bratlaat to rely on, then the event. this does not indicate a significant difference between these two variables is the industry. Varying sizes in both the pharmaceutical and automotive industry (total sample), as well as pharmaceutical and automotive industries dependent variable is significantly related to cash holdings., And finally, variable liquidity in both the pharmaceutical and automotive industry (total sample) were significantly associated cash holdings is the dependent variable, butto test this hypothesis in separate auto and pharmaceutical industries have a positive and significant relationship with the dependent variable, we got cash assets.

The primary objective of this study is to show that board structure affects the value relevance of earnings. The role of board structure is to reduce the conflicts of interests between shareholders and managers. Four attributes of board structure includes Board size, CEO membership, Duality and Board independence are considered in this study. These attributes are used in this study to assess the impact of board structure on information content of accounting earnings. Information dynamics models, such as the Ohlson (1995) model provide a testable pricing equation that also identifies the role non-accounting information (i.e. corporate governance) plays in determining firm value. Based on Ohlson’s (1995) model, the change in value model, as developed by Easton and Harris (1991), is modified to include the proposed interaction between board structure and earnings management. In order to hypothesis testing, the pooled GLS regression is employed as the primary technique to estimate the coefficients. These coefficients are then examined using the Wald test to find out whether the earnings response coefficients after incorporating indictors of earnings reliability are significantly different from the earnings response coefficients irrespective of any propositions. The sample was drawn from listed companies in Tehran Stock Exchange (TSE) for the years 1383 to 1387. The final sample contained 675 firm-year observations. The results reveal that board structure have no effect on information content of accounting earnings.